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TAX LAW NEWS - TAX LITIGATION
From the category archives:
Disabled military veterans may be eligible to for more tax relief under a bill passed by the Texas Legislature.
House Bill 3613 provides an exemption of the total appraised value of homesteads for Texas veterans who have received a 100 percent disability rating or are considered unemployable by the U.S. Department of Veterans Affairs.
“Texas has done [...]
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If you’re unemployed, your tax bill will probably decline:
Deduction for medical expenses. Co-payments, deductibles and other unreimbursed medical expenses are deductible only if they exceed 7.5% of your adjusted gross income.
The income cut-off prevents most people with jobs and employer-provided health insurance from deducting medical expenses. But if your income has declined and you’re paying [...]
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As we near the final days of 2008, what continues to weigh heavy on the minds of many people is the slowing U.S. economy — unemployment has reached the highest percentage in years at 6.7 percent*, layoffs and business closures continue and the housing market remains weak. This year, lawmakers have passed more than a [...]
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For 2009, personal exemptions and standard deductions will rise and tax brackets will widen because of inflation adjustments announced today by the Internal Revenue Service.
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